Azerbaijan, Russia, Iran to review investments

According to the statement, Elmar Mammadyarov, Sergei Lavrov and Mohammad Javad Zarif have agreed that the relevant ministries of these countries will comprehensively review the implementation of the North-South transport corridor project.

Lavrov was responding to a question about the possibility of Russia's investment in the Qazvin- Rasht-Astara railway construction project.

"Baku has already expressed willingness to invest in the Qazvin-Rasht-Astara railway construction project on the territory of Iran," Lavrov said at a press-conference following the trilateral meeting of the foreign ministers of Azerbaijan, Russia and Iran.

The Qazvin-Rasht-Astara railway is a part of the North-South transport corridor. Construction investments are estimated at $400 million.

Initial plans call for transporting six million tons of cargo through the corridor a year, which is expected to reach 15-20 million tons per year in the future.